[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2432 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 2432

To amend title 5, United States Code, to provide for a gender equality-
        focused investment option under the Thrift Savings Plan.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 19, 2015

 Mr. Beyer (for himself and Mr. Nolan) introduced the following bill; 
 which was referred to the Committee on Oversight and Government Reform

_______________________________________________________________________

                                 A BILL


 
To amend title 5, United States Code, to provide for a gender equality-
        focused investment option under the Thrift Savings Plan.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Federal Employee Gender Diversity 
Investment Act''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) A proven track record of taking advantage of the 
        talents, ideas, and contributions of women is an excellent 
        indicator of companies that are primed for long-term growth and 
        sustainability.
            (2) A report reviewing 2,360 global companies found that 
        those with women directors outperformed those without in return 
        on equity.
            (3) Companies with greater numbers of women in senior 
        management outperformed those without women directors in return 
        on equity and scored higher when being evaluated on 
        organization, leadership, accountability and innovation.
            (4) Investing in women and girls is one of the most 
        important strategies for alleviating poverty and promoting 
        sustainable development around the globe.

SEC. 3. GENDER EQUALITY-FOCUSED STOCK INDEX FUND.

    (a) Definition.--Section 8438(a) of title 5, United States Code, is 
amended--
            (1) by redesignating paragraphs (2) through (10) as 
        paragraphs (3) through (11), respectively;
            (2) by inserting after paragraph (1) the following:
            ``(2) the term `Gender Equality-Focused Stock Index Fund' 
        means the fund established under subsection (b)(1)(G);''; and
            (3) in paragraph (10), as redesignated by paragraph (1) of 
        this subsection, by striking ``paragraph (8)(D)'' each place it 
        appears and inserting ``paragraph (9)(D)''.
    (b) Establishment.--
            (1) In general.--Section 8438(b)(1) of title 5, United 
        States Code, is amended--
                    (A) in subparagraph (E), by striking ``and'' at the 
                end;
                    (B) in subparagraph (F), by striking the period at 
                the end and inserting ``; and''; and
                    (C) by adding at the end the following:
            ``(G) a Gender Equality-Focused Stock Index Fund as 
        provided under paragraph (6).''.
            (2) Fund requirements.--Section 8438(b) of title 5, United 
        States Code, is amended by adding at the end the following:
    ``(6)(A)(i) The Board shall select a minimum of one index which is 
a commonly recognized, passively managed index comprised of stocks 
(from the United States or international equity markets) that have been 
analyzed and selected based on criteria consistent with the purposes of 
this paragraph.
    ``(ii) The criteria under clause (i) shall at a minimum include--
            ``(I) gender diversity in corporate board and senior 
        management composition;
            ``(II) pay equity;
            ``(III) workplace relations and benefits; and
            ``(IV) international operations and human rights.
    ``(iii) The historical performance of each index selected under 
this subparagraph shall be comparable to that of the other investment 
funds and options available under this subsection.
    ``(B) The Gender Equality-Focused Stock Index Fund shall be 
invested in a portfolio designed to replicate the performance of the 
index in subparagraph (A) (or, if more than one index is selected, the 
overall average performance). The portfolio shall be designed such 
that, to the extent practicable, the percentage of the Gender Equality-
Focused Stock Index Fund that is invested in each stock is the same as 
the percentage determined by dividing the aggregate market value of all 
shares of that stock by the aggregate market value of all shares of all 
stocks included in such index (or indexes).''.
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